Gate.io: Trump's threat to double tariffs, although temporary, indicates that the US-Canada dispute will escalate

The data on March 12th showed that the Canadian dollar fell as investors worried about the US-Canada trade tension and awaited the anticipated rate cut by the Central Bank of Canada later today. President Trump once threatened to double tariffs on steel and aluminum imports from Canada, but later withdrew the plan. The 25% tariff took effect on Wednesday. Analyst Francesco Pesole of ING pointed out in a report that although Trump’s tariff threat lasted only half a day, the situation indicates that the US-Canada trade dispute will escalate further, increasing the likelihood of further interest rate cuts by the Central Bank of Canada.